Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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The HC dismissed the writ petition challenging the imposition of penalty under Section 122(1A) of the CGST Act for fraudulent availment of ITC through fake firms. The court found that the petitioner, a GST consultant and former GST Department employee, was complicit in creating fictitious entities and aware of the ongoing fraudulent transactions. The petitioner failed to rebut the allegations of benefiting from the fraud, and the continuous nature of the offense satisfied the conditions for penalty under Section 122(1A). Although the limitation period for challenging the order had expired, the HC allowed the petitioner an opportunity to pursue appellate remedies under Section 107 of the CGST Act. The petition was accordingly disposed of.
The HC dismissed the writ petition challenging the imposition of penalty under Section 122(1A) of the CGST Act for fraudulent availment of ITC through fake firms. The court found that the petitioner, a GST consultant and former GST Department employee, was complicit in creating fictitious entities and aware of the ongoing fraudulent transactions. The petitioner failed to rebut the allegations of benefiting from the fraud, and the continuous nature of the offense satisfied the conditions for penalty under Section 122(1A). Although the limitation period for challenging the order had expired, the HC allowed the petitioner an opportunity to pursue appellate remedies under Section 107 of the CGST Act. The petition was accordingly disposed of.
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